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Hotel Industry Applauds Release of Senate Covid Relief Package, Calls for Swift Passage
AHLA | July 28, 2020
WASHINGTON (July 28, 2020) – The American Hotel & Lodging Association (AHLA) applauded Senate Republicans for including several hotel industry priorities in the coronavirus relief package released today and urged Congress to move quickly to pass the legislation. Among the provisions in the Senate package are additional funds for the Paycheck Protection Program (PPP) and limited liability protection for businesses as they reopen, both of which will support the hotel industry and our employees during this unprecedented crisis. “Hotels and hotel employees have been severely impacted by the pandemic,” said Chip Rogers, president and
How Government Loan Assistance Has Helped Prop Up Hotel Profitability
HotStats | July 28, 2020
The tidal wave of COVID-19 has left many in the hotel industry gasping for air amid choppy financial waters. Luckily, governments across the globe have tossed hotels a much-needed financial floatation device. Unfortunately, keeping government loan assistance straight can be tough, especially if you’re trying to keep a hotel running or investments profitable. Wondering how government loan assistance is helping hotels get back on solid financial ground? We’ve mapped out how governments across the globe are using funding to jump-start hotel profitability. How Has Government Assistance Helped the U.S. Hotel Industry
Tripadvisor Celebrates the Best in Travel With 2020 Travelers’ Choice Awards
TripAdvisor | July 28, 2020
NEEDHAM, Mass., July 28, 2020 -- Tripadvisor®, the world's largest travel platform, as part of its ongoing efforts to support the recovery of the tourism and hospitality industry, today announced the winners of its 18th annual Travelers' Choice® Awards. This coveted award program celebrates travelers' favorite hotels, restaurants and airlines around the world, honoring 4,817 unique businesses this year. Winners are calculated based on the quality and quantity of the millions of reviews, opinions and ratings collected on Tripadvisor in 2019, prior to the pandemic. With over 8.7 million businesses listed on Tripadvisor, these awards are a
Take Charge of Your Capital: You May Think You Are, But This May Not Be the Case
Alex Sogno | July 28, 2020
By Alex Sogno As you’re reading this, regardless of where in the capital stack you sit, you probably have a stronger than usual desire to know exactly what’s going on with the underlying asset, the cash flow, the promised CapEx program, the debt covenant compliance, and how badly you mispriced your risk (you’re not alone). Your focus is likely on re-balancing your risk/return proposition the best you can, by either 1) increase your return or 2) decrease your risk. During these Corona days, the most likely strategy to succeed would be the latter. Or is it? Given the right agreements with the right parties, and a shared understandin
IHG Signs With Ha Long Investment and Development for InterContinental Halong Bay Resort in Vietnam
IHG® | July 28, 2020
InterContinental Hotels Group (IHG®) today announced the signing of InterContinental Halong Bay Resort and InterContinental Residences Halong Bay with Ha Long Investment and Development Limited Company, a member of BIM Group, marking IHG’s expansion into the Quang Ninh province, Vietnam. Slated to open in 2023, the project draws inspiration from its beachfront location in Halong Bay which includes more than 1,600 islands and inlets forming a spectacular seascape of limestone pillars, and InterContinental brand’s distinctive style. InterContinental Halong Bay Resort will feature 175 guest rooms while InterContinental Residences Halong
Residence Inn by Marriott Hotel to Open in Mt. Juliet, Tennessee
Residence Inn by Marriott | July 28, 2020
Mt. Juliet, TN – July 28, 2020 – The 124-suite Residence Inn by Marriott in Mt. Juliet, Tennessee is set to open this week with its upscale, stylish décor that offers flexibility, while creating a unique environment. Located at 5004 Crossings Circle, the all-suite Residence Inn Nashville Mt. Juliet will operate as a Marriott franchise, owned and managed by Pinnacle Hospitality Partners, LLC of Nashville, Tennessee. Located 10 miles from Nashville International Airport and 20 minutes from downtown Nashville, the Residence Inn Nashville Mt. Juliet offers its guests convenient access to the Providence Mall, the Opryland Convention Center
Les Hotels Baverez Selects IDeaS Revenue Solutions to Boost Competitiveness in Paris
IDeaS | July 28, 2020
Five-star hotel group to use the market’s most sophisticated RMS solution to increase efficiency and profitability LONDON—July 28, 2020—One of Paris’s leading luxury hotel groups, Les Hotels Baverez, has selected IDeaS G3 Revenue Management System (RMS) to improve its forecasting capabilities and boost its competitiveness in Paris. With three five-star hotels in the French capital, Les Hotels Baverez will implement the market’s leading RMS technology to ensure revenue is maximised in all its 233 rooms. Working in an increasingly competitive market – Rising competition within the luxury segment of the Paris market highli
The Glenmark, Glendale Appoints Executive Team for Hotel Opening
The Glenmark, Glendale, A Tribute Portfolio Hotel | July 28, 2020
Glendale, California (July 28, 2020) – Michael Tchakmakjian, Owner of The Glenmark, Glendale, A Tribute Portfolio Hotel, is pleased to announce Kevin Briggs as General Manager and Tony Trujillo as Executive Chef of Glendale’s newest boutique lifestyle hotel managed by Azul Hospitality Group. Briggs is responsible for all aspects of The Glenmark’s operations, while Trujillo oversees the dining concepts for the hotel’s signature restaurant, rooftop lounge and meeting spaces. Both play vital roles in the overall success of the hotel as well as heightening experiences for guests and locals alike. Briggs joins The Glenmark with a strong